The minister said that President Bola Tinubu and leaders from the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) met on Thursday in Abuja and agreed on a new minimum wage.
Idris, the minister, announced that the minimum wage will go from ₦62,000 to ₦70,000. This new amount will be submitted to the National Assembly soon.
NLC President Joe Ajaero, TUC leader Festus Osifo, and Labour Minister Nkiruka Onyejeocha were at the announcement. Ajaero confirmed the new ₦70,000 wage and added that the wage will now be reviewed every three years, instead of every five years.
Ajaero said the Organised Labour will consult their members about the new wage. Onyejeocha also mentioned that President Tinubu has asked Finance Minister Wale Edun and Budget Minister Atiku Bagudu to work on settling issues with SSANU and NASU.
After several talks and failed negotiations, this agreement came after the President asked for more realistic expectations regarding the minimum wage. The President had previously said that an executive bill for the new minimum wage would soon be sent to the National Assembly.
The ₦70,000 minimum wage will be communicated to the National Assembly in the coming days.
